Assume that the real GDP of a developing nation increases from $120 billion to $140 billion while its population expands from 100 to 110 million. As a result, real GDP per capita has increased by about ________.

Conventional economic theory assumes that people

a. care a great deal about fairness. b. are inconsistent over time in their decisionmaking. c. are rational. d. are satisficers.

How are the fundamental economic decisions determined in North Korea?

A) Individuals, firms, and the government interact in a market to make these economic decisions. B) These decisions are made by the country's elders who have had much experience in answering these questions. C) The government decides because North Korea is a centrally planned economy. D) The United Nations decides because North Korea is a developing economy.